<b>Protected Audience bids arrive blind</b>

<b>Protected Audience bids arrive blind</b>

Watching: Privacy Sandbox's Protected Audience runs the interest-group auction in a fenced frame, so the winning ad renders without GAM seeing the user signal that produced it. Your reporting gets a fill with no addressable context attached — reconciliation against the buyer's logs starts diverging.

— Fenced-frame renders break the usual signal-to-revenue audit trail
— Reporting deltas widen as more demand routes through PA

Impact: build a separate reconciliation lane for fenced-frame fills now, before the volume matters. (sourced)